President Donald Trump has announced that he will impose 100 percent tariff on imports of brand-name or patented pharmaceutical products from next month unless the drug manufacturing company establishes a production plant in the United States.
"Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America," he wrote on Truth Social Thursday. "'IS BUILDING' will be defined as, 'breaking ground' and/or 'under construction'. There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter".
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.